Blue Apron has a much bigger problem than Amazon
|07/07/2017||Posted by BusinessMediaguide.Com under General World News||
Blue Apron finally went public Thursday, but the IPO didn’t go quite as planned.
The meal-kit delivery company priced its IPO at $10 a share, 40% below the maximum it sought. In its trading debut, the shares did absolutely nothing — closing at $10 after rising slightly earlier in the day.
Many are blaming Amazon, which shook the grocery industry with its $13.7 billion offer to buy Whole Foods earlier this month, for raining on Blue Apron’s big day.
But investors should be wringing their hands over a much bigger issue: Blue Apron has a customer-retention problem.
The company is losing money read more >>>